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MRS and other partners of the Dangote Petroleum Refinery are expected to start selling petrol at N739 per litre, following a recent reduction in the refinery’s gantry price from N828 to N699 per litre.
The announcement was made on Sunday by Alhaji Aliko Dangote, President of the Dangote Group, at a press briefing held at the Lekki refinery. Dangote expressed concern that some filling stations continue to charge higher pump prices, undermining efforts to make fuel more affordable for Nigerians.
Dangote stated that MRS would implement the new pricing from Tuesday, with other partners set to follow. He alleged that some officials had met with marketers, instructing them to maintain elevated prices to frustrate the refinery’s price adjustments.
“I was informed that marketers were advised by some officials to keep prices high. But with this new pricing starting at MRS stations in Lagos on Tuesday, the N970 per litre price will be a thing of the past,” Dangote said.
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He also called on members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) to adhere to the new pricing to ensure consumers benefit from the lower costs.
Industry analysts note that petrol prices in Nigeria remain unstable due to distribution inefficiencies, regulatory challenges, and alleged collusion between marketers and officials. Dangote’s move is viewed as an effort to enforce price discipline and stabilize costs.
The development is part of broader efforts to reduce reliance on fuel imports and strengthen domestic refining. The Dangote Group has pledged to monitor pricing closely and take steps to prevent any attempts to undermine the new pricing structure, which consumers and civil society groups have welcomed as a step toward sustained reductions at the pump.
